- Bernanke says recession 'very likely over' - AP
- Fed Chief Says Recession Is ‘Very Likely Over' - NYT.com
- Bernanke Sees Recession's End - WSJ.com
As is so often the case, Tuesday afternoon's headlines missed the nuance of the story. Ben Bernanke's full statement told a much less ebullient tale: "From a technical perspective, the recession is very likely over at this point," he said. "It's still going to feel like a very weak economy for some time because many people will still find that their job security and their employment status is not what they wish it was."
Michael Pento, chief economist at Delta Global Advisors, has a more fundamental critique of the coverage: "Why would anybody listen to this guy in the first place?," Pento wonders. "[Bernanke] told us the recession wasn't even going to occur. He was very slow to reduce interest rates and now very very slow to raise them. So I wouldn't put any credence in anything he does, at all."...................
